LYNDHURST, N.J. -- North American Watch Corp. narrowed its first-quarter loss to $836,000 from $2.7 million a year ago.

Sales for the quarter ended April 30 gained 15.9 percent, to $23.9 million from $20.6 million.

Assuming the company's October initial public offering had been completed as of Feb. 1, 1993, the company would have reported a loss of $1.6 in the year-ago quarter.

Efraim Grinberg, president and chief operating officer, said the first-quarter results were in line with expectations. He noted that the rise in sales reflected a 36 percent increase in domestic sales due to growth of the Concord, Movado and Esquire brands. The increase was offset in part by a 15 percent decline in international sales, which are still weak in some markets, Grinberg added.

North American Watch manufactures and distributes branded watches, and distributes the Swiss-made Piaget and Quorum watches in the U.S., Canada, Central America and the Caribbean.

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